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20130124
20130201
Search Results 0 to 9 of about 10 (some duplicates have been removed)
and a half months, at which point the debt ceiling will be reinstituted at a higher level. we expect the government will probably borrow something on the order of $400 billion between now and such time as the debt ceiling is re-established. we have got $16.4 trillion in debt today, so by the time the debt ceiling is reapplied, rei am posed, it will just under $17 trillion. now, at that point, we will be right back to the standoff that we were at very recently, standoff over what to do about this massive amount of debt we already have and the massive amount of additional debt that the administration would like to create. now, the administration's position is very clear. they want additional borrowing authority with no strings attached, no conditions, no limits on future spending. they just want to be able to keep borrowing. some on our side of the aisle feel very strongly that any increase in the debt ceiling that authorized still more borrowing needs to be accompanied with some measure of spending discipline so that we can at some point begin to regain control over these out-of-contr
. >> i don't think those demands are going away. part of the point of the short-term debt ceiling extension just passed last week was sort of to try and leverage their position in the sequester-related discussion of $1.2 trillion of autoic spending cuts set to kick in on march 1st which are delayed two months with the fiscal cliff deal. they're hoping to extract spending cuts from president obama. if not that fight, then in the next debt ceiling fight the next debt ceiling fight. the demand nor spending cuts isn't going to go anywhere. >> bill: barney frank, he would be fired up, ready to go. he knows she is issues. he knows the fiscal issues better than anybody else. >> deval patrick said he would be happy to have him. he didn't endorse it per se but he expressed sort of opens to the idea. >> wouldn't be a big learning curve for barney. >> bill: no, not at all. i think it would be very tough for governor patrick not to appoint him. i mean who else could step in and have all of the information and all of the experience you need to really fight for the people. >> i was going to say
the of current debt ceiling through mid-may. but at that point it retroactively goes up and the bipartisan policy center says the increase will be $450 billion. call it about half a trillion so the new total will end up being around 17 trillion in federal debt, as of mid-may. that string attached to the no budget-no pay provision. house republicans who have passed budgets during the first obama term inserted this into the legislation, essentially to pressure senate democrats to pass budgets. they have not done that during obama's first term. the measure says each chamber has to pass a budget by mid-april. sured either chamber fail, its member's pay would be withheld. here is harry reid talking about it and how it comes together today. >> obviously democrats would prefer a longer suspension of the debt ceiling which would provide additional economic security and stability as we continue to find ways to decrease the deficit. raising the possibility the united states could default on its obligations every few months is not an ideal way to run government but a short-term solution is better than anoth
to raise taxes. two major points are coming up. the continuing resolution and the debt ceiling. both of those are coming up in the next couple of months. those are leverage points that are the mirror image of the fiscal cliff. those are leverage points that if nothing passes the result is not a default on the debt. that's scare hmongering from the president. the -- scaremongering from the president. those are temporary partial shutdowns. we've seen that before in 1995 when republicans stood together, and the result was some political pain, to be sure, but it was also year after year of balanced budgets and some of 9 most fiscally responsible policies from congress we have seen in modern times. [applause] the only hope of getting anything affirmative done is requesting to come from those leverage points because president obama has indicated, sadly, he has no interest in being bill clinton. he has no interest in tacking to the middle. he has no interest in compromising with anybody, and the only way we're going to restrain the out of control spending and debt that's threatening our fut
. >> greta: every time we hit one of the mile posts, whether it's sequestration or debt ceiling, taxes going up, whatever it is, what happens is the solution is just to extend is somehow and create another hurdle in a certain period of time and when we get to that point we do it again. i mean. >> that's not the best way to do it. >> greta: is there ever going to be a finality to this. >> one way or the other because there will come a point where the debt will deal with us if we don't deal with it. no doubt it has to be dealt with, we would hope we would deal with it it before that point of crisis before we become europe or one of the places that scramble to deal with it that should been dealt with a long time. the president of the united states gave his inaugural address on monday and barely mentioned the national debt and the fundamental argument only way for the middle class and create prosperity in america is for the government to have more control over our economy, more taxes, more regulations, more spending. there's a fundamental difference between the president's view of our future and
to the debt ceiling and saying another policy error could be a big market hit. what do you mean by that? >> we look can't think we are still in this leveraging scenario. it is not over. debt levels are still high in the u.s. and many developing economies. we have to bring those down to create a nice fundamental situation. that provides a lot of opportunity for policymakers to make mistakes or mess things up. and the extension in front of -- a sequester coming. the extension of the budgets for the coming year, in europe we still have spain refinancing 20% of gdp in debt, more than enough opportunities, that is not a best case. >> you are talking about the united states, the worst enemy at this point. to get these jobless claims at week 5-year lows, nice to see but if unemployment is at 10%, in range for 2013, and it will take 1/2% of of the gdp, no jobs, don't even have an economic recovery and no jobs. >> not necessarily a bad economy, we are in an okay economy, not great because 1/2%, from a fiscal austerity coming through the pike, the job situation is improving gradually, housing is and i s
Search Results 0 to 9 of about 10 (some duplicates have been removed)